Liquid delivery and handling systems such as, for example, industrial fire sprinkler systems are adapted to accommodate a liquid such as water under pressure. As such, when the system is activated the pressurized water is exhausted through any number of nozzles or sprinklers for extinguishing the fire. Upon initial installation, for example, the various pipelines, valves, nozzles, and sprinklers art not filled with water, but rather, contain air at generally atmospheric pressure. When the system is filled with water, a process that can be referred to as “start-up,” the air in the system must be exhausted through some sort of exhaust valving arrangement. This exhausting of the air can be referred to as “start-up relief.” Many conventional exhaust valving arrangements include manually operable valves, which are opened upon “start-up” and manually closed when all the air is exhausted. Once all the air is exhausted, the system is completely filled with water and pressurized to a target pressure. Increases in pressure above the target pressure, which can result from environmental changes or changes in the source of water supply, for example, and can detrimentally affect the operation and useful life of the system. Therefore, some conventional systems also include an overpressure relief valving arrangement that is configured to relieve the pressure in the system back down to the target pressure, a process which can be referred to as “overpressure relief.” Some conventional overpressure relief valving arrangements are either manually operated in response to an alarm, for example, or operate based on the sensing of pressure in the system. Regardless of the specific exhaust and relief valving arrangements conventionally used, the two arrangements operate independently of each other and require at least some amount of user input or attention to ensure proper “start-up relief” and/or “overpressure relief” functionality.